PETALING JAYA: Malaysia’s automotive market took a breather in August as total industry volume (TIV) slipped 3% month-on-month (m-o-m) to 71,400 units, following July’s strong rally.
According to TA Research’s analysis of Malaysian Automotive Association data, the pullback was driven by a 2.7% drop in passenger vehicle sales to 67,100 units and a 7.3% contraction in commercial vehicles to 4,400 units.
On a year-on-year (y-o-y) basis, August TIV declined 4.2%, weighed down by a 2.4% drop in passenger cars and a steep 24.6% slump in commercial models.
Yet, the broader picture remains resilient, said the research house. Cumulative eight-month financial year 2026 (8M26) TIV edged up 1.7% y-o-y to 530,500 units, as steady 2.9% growth in passenger cars (497,600 units) comfortably absorbed a 14% drag in commercial sales (32,900 units).
Performance was spearheaded by Proton, whose sales surged 18.4% m-o-m and 37.7% y-o-y to 20,100 units, bolstered by an expanding lineup and sustained momentum from its e.MAS series, the research house explained.
In contrast, market leader Perodua saw sales soften 7.6% m-o-m (down 8.1% y-o-y) to 29,400 units. For 8M26, national sales rose 7.7% y-o-y to 354,700 units, driven by Proton’s 38.5% growth of 135,200 units.
National brands captured roughly 74% of the passenger vehicle market share in August, underlining strong consumer preference for localised models.
Non-national passenger sales weakened further, dropping 12.7% m-o-m and 20.8% y-o-y to 17,500 units. Major marques posted m-o-m declines, including BYD which was down 45.8%, Nissan (down 25.1%), Honda (down 21.2%), Mazda (down 19.1%), and Toyota (down 11.7%).
TA Research maintained its “neutral” rating on the automotive sector, keeping its full-year 2026 TIV forecast unchanged at 790,000 units, down 3.7% y-o-y.
The research house reiterated a “buy” call on Bermaz Auto Bhd
at a target price (TP) of RM1.02, a “hold” on Sime Darby Bhd (TP: RM2.63), and a “sell” on MBM Resources Bhd (TP: RM4.46).
Meanwhile, electric vehicle (EV) adoption reached a new high. TA Research said Road Transport Department registration data revealed a record 8,833 EV units registered in August, up 27.3% m-o-m and up 155.2% y-o-y, accounting for 11.4% of total registrations.
Year-to-date EV registrations doubled to 47,500 units, up 103.1% y-o-y. Proton dominated the EV segment with an approximately 61% market share of 5,383 units.
